The "m" here is actually the initial letter of "Months" in English, which is translated into Chinese as "month", so "m1, m2, m3" represents a time period. The time period referred to by "m1" is "between the second billing date of non-repayment and the last repayment date of the second bill". During this period of time, the bank adopts a reminder collection method, and imposes penalty interest on unpaid amounts and charges late payment fees. The time period referred to by "m2" is "between the third bill date of non-repayment and the last repayment date of the third bill." During this time, bank collectors will call to inform you of the consequences of non-payment. If necessary, we will contact the debtor's relatives and friends to assist the debtor in repaying the debt. The time period referred to by "m3" is "between the fourth bill date of non-payment and the last repayment date of the fourth bill." During this period of time, banks adopt a forced repayment approach, and collectors will require debtors to repay through phone calls, text messages, and letters from lawyers.

Loan terminology:

1. Monthly management fee

The so-called monthly management fee is based on the initial loan amount, and the monthly interest rate is Interest charges are calculated based on the remaining principal each month. With the changes of the times, a wide variety of charges have emerged in the loan market. Among them, the monthly management fee is the protagonist. In many cases, it has eliminated the role of the monthly interest rate and is particularly related to loan interest. close. In addition, in addition to the different names of the two, there are also big differences in the calculation methods.

2. One-time handling rate

The one-time handling rate means that the handling fee for this loan business is only charged once and will not be charged repeatedly in the future.

3. Monthly interest of X cents

Monthly interest of X cents is a commonly used term for private loans. The "cent" here refers to one percent. For example, if the monthly interest is 3 cents, it means that the monthly interest is 3% of the loan amount. If the loan is 100,000 yuan and the loan is used for two months, the interest will be 6,000 yuan.

4. Multi-head loan

Multi-head loan means that the borrower borrows from multiple banks or private institutions at the same time to effectively fill the funding gap. To put it simply, an individual or a company (one company) borrows money from multiple banks.

5. Revolving credit

The characteristic of revolving credit is that after the customer obtains a certain loan limit from the bank, the customer can withdraw funds in installments and recycle them within the period, and the withdrawal does not exceed the available limit. When making a single payment, the customer only needs to fill in the withdrawal application form, and no special approval is required. Cash can usually be withdrawn in one hour. It is more suitable for individuals’ capital demand characteristics of “small amount, urgent requirements, fast turnover and retailization”.

6. Bad credit

Credit stains are also called bad credit records. After a bank customer applies for a loan, due to some reasons, the repayment is overdue, which is a credit stain. Different banks have different standards for approving personal credit records. As time changes, consumers' economic conditions and repayment situations will also change. Banks will not always pay attention to consumers' early bad credit records.